Bank of Israel launches targeted lending operations
Central bank offers cheap loans to banks as part of Covid-19 response package
The Bank of Israel has launched a programme of targeted loans for banks as part of a new package of measures designed to tackle the economic impact of Covid-19.
In a move reminiscent of the European Central Bank’s targeted longer-term refinancing operations, the Bank of Israel offered banks cheap loans for three years, provided they expand credit to small and micro businesses.
The Bank of Israel’s monetary committee also chose to cut the policy rate 15 basis points, to 0.1%. The central bank
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